8th October 2021
The Government has announced changes to financial support for businesses that may be advantageous for you.
JobSaver eligibility requirements have loosened.
Good news if at first you did not qualify for Jobsaver. It is now easier to fit the eligibility criteria and apply for JobSaver than it was in the beginning. Most notably, the time period in which your business had to experience a 30% decline in turnover has been extended. It can now be in any 2-week period commencing 26 June 2021. However, do not delay in reviewing your eligibility, as applications close on 18 October 2021.
This is great news for those of you who did not meet the original eligibility criteria but may do so now. To be eligible for JobSaver your business should:
- have an active Australian Business Number (ABN)
- have been operating in NSW on 1 June 2021
- have had an aggregated annual turnover between $75,000 and $250 million (inclusive) for the year ended 30 June 2020
- have experienced a decline in turnover of 30% or more due to the public health order over a minimum 2-week period commencing 26 June 2021 compared to:
- the same period in 2019, or
- the same period in 2020, or
- the 2 weeks immediately prior to any restrictions, 12 June to 25 June 2021.
- for employing businesses, maintain your employee headcount from 13 July 2021 if you received payments from the start of JobSaver, or otherwise from the day before the fortnight that you first experienced the required decline in turnover
- for non-employing businesses, such as sole traders, show that the business is the primary income source (50% or more of the total income) for the associated person. If you have more than one non-employing business, you can only claim payments for one business.
Apply for JobSaver here.
When will JobSaver end?
Payments have been extended to 30 November 2021 but will be tapered in line with the easing of restrictions. When NSW reaches:
- 70% double vaccination, payments will reduce from 40% of weekly payroll to 30%
- 80% double vaccination, payments will reduce from 30% of weekly payroll to 15%.
Micro-business Grant
Payments have been extended to 30 November 2021 but when NSW reaches?80% double vaccination, payments will reduce from $1500 to $750 per fortnight.?
Applications for the Micro-business Grant also close 18 October 2021. Apply for Micro-business Grant here.
Business grant now closed
Applications for the 2021 COVID-19 Business Grant closed on 1 October 2021.
Applications in progress will still be processed.
If you need help with applications for micro-business grant or Jobsaver please don’t hesitate to give myself or the team a call.
